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Business
Business Roundup
November 7, 2016
| A version of this story appeared in
Volume 94, Issue 44
Shin-Etsu Chemical will spend $23 million to build a functional silicones plant at its base in Naoetsu, Japan. The company will also expand its silicone rubber technical center in Higashimatsuyama, Japan. Shin-Etsu claims to enjoy a 50% share of the Japanese silicones market.
Evolva, a Swiss biotech firm, has signed a license agreement with ERS Genomics, the gene-editing technology firm started by Emmanuelle Charpentier, an inventor of CRISPR-Cas9 techniques. Evolva will gain access to CRISPR to engineer yeast and fungi to produce ingredients for industrial applications.
BASF says a fourth person has died from injuries sustained in a fire and explosions that occurred at its Ludwigshafen, Germany, headquarters in the early hours of Oct. 20. The firm says the explosion was likely caused by a contractor cutting the wrong pipeline.
Vertellus Specialties has emerged from bankruptcy after selling itself to its lenders, a group that includes Black Diamond Capital Management and Brightwood Capital Advisors. The specialty chemical maker says it has an improved capital structure and increased financial flexibility.
Ferro has acquired Electro-Science Laboratories for $75 million in a bid to beef up its business in electronics packaging materials. ESL, based in King of Prussia, Pa., is projected to have earnings of about $9 million in 2016.
Croda International has opened formulation laboratories in China, Indonesia, and South Korea for its personal, home, health, and crop care businesses. The firm says the labs will enhance collaboration with customers in the three countries.
Third Rock Ventures has raised $616 million in its fourth investment fund. The health care venture capital firm says it has raised $1.9 billion since 2007 to build companies developing drugs in areas such as oncology, immunology, cardiovascular disease, and rare genetic diseases.
Astellas Pharma will pay $468 million to acquire the oncology drug discovery firm Ganymed Pharmaceuticals, based in Mainz, Germany. Astellas will pay an additional $953 million to Ganymed shareholders if the company’s leading compound, an antibody, performs well in clinical trials.
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